About This Event
“Know which failures would hurt you most, and prove you are watching for them.”
A three-day programme on how central banks govern operational risk and run effective compliance functions. You will examine the three lines model, build a risk taxonomy that fits central bank activities, and design incident reporting and control self-assessment processes that give management an honest picture of where things could go wrong.
What You'll Explore
A draft operational risk taxonomy tailored to central bank activities
A risk and control self-assessment template tested on a real process
A shortlist of key risk indicators with thresholds and owners
An incident and near-miss reporting workflow ready to pilot
A mandate outline for an independent compliance function
Who Should Attend
Open to all qualifying staff, particularly: Heads of Operational Risk, Compliance Officers, Internal Auditors, Risk Champions in Business Units, Enterprise Risk Management Staff.
Why This Course Matters
A Shared Risk Language
A clear taxonomy gives every department the same way to name and classify operational risks. Consistent classification means risks can be compared, aggregated and reported to the board on one basis.
Honest Incident Data
Loss and near-miss reporting only works when staff trust the process and know what to report. Good incident data shows where controls are failing before a small error becomes a public event.
Credible Compliance
A central bank that enforces rules on others must be seen to follow its own. A well-run compliance function protects the institution's reputation and the independence that depends on it.
Programme
Day 1
Operational risk governance & the three lines model
You will map operational risk governance at a central bank, clarifying the roles of business units, risk, compliance and internal audit under the IIA Three Lines Model and the reporting lines to the board.
Day 2
Risk taxonomies, RCSA & key risk indicators
You will build an operational risk taxonomy for central bank activities, run a risk and control self-assessment on a sample process, and select key risk indicators with thresholds management can act on.
Day 3
Incident reporting & the compliance function
You will design an incident and near-miss reporting process, then review how to structure the compliance function, from its mandate and monitoring plan to reporting breaches to senior leadership.
Standards & Faculty Benchmark
BCBS Principles for Sound Operational Risk Mgmt
The Basel Committee's 2021 revised principles on governance and management of operational risk.
IIA Three Lines Model
The Institute of Internal Auditors' model for roles across management, risk and internal audit.
International Operational Risk Working Group
The central bank network whose shared practice on operational risk informs the case material.
These are the references supervisors, auditors and fellow central banks use when they assess operational risk management. Aligning your governance and taxonomy to them means your reporting is comparable with peers and your framework stands up to an external review.
Is This Right for You?
- ☑You work in operational risk, compliance or internal audit
- ☑Your institution is building or refreshing its ORM framework
- ☑You report operational risk to senior management or the board
Good to Know
Open to risk, compliance and audit staff at all levels; no quantitative modelling is required, as the focus is on governance and practical process design. You leave with a draft risk taxonomy, an RCSA template and an incident reporting workflow for your institution.
The Bottom Line
Return with a taxonomy, an RCSA and an incident process that give your board a clear view of operational risk.
Recommended For
Open to all qualifying staff, particularly: Heads of Operational Risk, Compliance Officers, Internal Auditors, Risk Champions in Business Units, Enterprise Risk Management Staff.